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The Riversdale Group has appointed Ray White hotel broker Andrew Jolliffe to sell the iconic Marlborough Hotel in Sydney's inner city suburb of Newtown.
It is Riversdale’s largest and most valuable hotel property. It last traded for $7,675,000 in 2012.
Offers close March 1, on <a href="https://www.commercialrealestate.com.au/property/145-king-street-newtown-nsw-2042-2013361127" target="_blank">The Marly, an expansive large format hotel</a> with multiple bars, function spaces and a high performing gaming room with 30 very valuable EGMs.
"The Marlborough Hotel is a compelling opportunity for astute investors," he said.
"Located 5km from the Sydney Central Business District, the 978sqm property comes with a 1940’s constructed Interwar architectural style hotel.
"The multi-street fronted Marlborough Hotel is, in the first instance, a most serious piece of fringe CBD commercial real estate; and at almost 1000sqm and numerous storeys including an approved alfresco roof top area; the investment flexibility is patently clear.
"In addition to all above however, is the cash flow potency and reliability the current business model promotes; with well in excess of $10m in combined annual receipts enjoyed by the balanced revenue centers.
"Situated outside Sydney's lock-out zone, and with perpetual ownership of 30 very valuable gaming licenses and a DA approval for a licensed rooftop operation, it all augurs well for fantastic future revenue attraction.
"We've espoused the view recently, and confidently, that the market indicators suggest a case for A-grade freehold hotel yields to contract below 8% in gateway east coast cities.
"In fact, with the prevalence of well-priced debt and record revenue levels being achieved in some sectors of the industry, the downward pressure in yields is far more pronounced than any upward pressure we've seen exhibited."
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j.ballantyne1990-6AQqhLzZaK

Riversdale's largest Sydney hotel, The Marly, listed for sale

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2016 was a watershed moment for China’s commercial real estate market, heralding the next phase of its transformation into one of the major global destinations for property investors and developers, according to Real Capital Analytics.
While development remains a prominent feature of its property market, higher deal volumes for standing assets are a sign of the maturity and depth of China’s investment market.
The confidence of Chinese developers has risen yet again.
The historic peak of land sales by volume was 2013 and 2016 came close second with $417.5b (RMB 2.8t) transacted.
In line with the growing demand, land prices have spiked.
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%201.27.05%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/08/Screen%20Shot%202017-02-08%20at%201.27.05%20pm.jpg" alt="">
The sharp price growth has been particularly obvious in Tier 1 cities with 19% growth since 2013.
Land values in Tier 1.5 and 2 cities have risen significantly too, by 61% and 49%, respectively.
China became the Asia Pacific region’s largest investment market for income-producing real estate for the first time, overtaking Japan and Australia.
This is a very prominent milestone in the development of the Chinese real estate market.
As highlighted earlier in the report, a total of $36.5b of real estate, excluding development sites, changed hands in China in 2016.
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%201.27.13%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/08/Screen%20Shot%202017-02-08%20at%201.27.13%20pm.jpg" alt="">
China also claimed another record in 2016 as the Asia Pacific region’s top destination for foreign investors, who completed $10.2b of transactions there last year.
The value of transactions by foreign investors has doubled over the last five years.
The largest foreign investment in China, as well as the largest single asset office transaction in the world, was ARA AM’s purchase of Shanghai Century Link for $3.0b in Q4’16.
Another facet of China’s robust growth is the expansion of Chinese real estate investors and developers abroad.
RCA data shows that $34.7b was invested abroad by Chinese investors in 2016.
This is 245% above the 10-year average and 51% higher than 2015.
However, the strong growth does not come without its challenges.
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%201.27.21%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/08/Screen%20Shot%202017-02-08%20at%201.27.21%20pm.jpg" alt="">
Speculation about new capital control rules squeezing the pipeline of Chinese outbound capital is causing some concern among market participants both in China and internationally.
It is reasonable to expect that Chinese outbound capital will slow down somewhat in 2017.
Still, investment and development activity within China’s borders is set to stride into 2017 and beyond.
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China's real estate market continues to mature as confidence rises

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China became the Asia Pacific region’s largest investment market for income-earning real estate for the first time in 2016.
Analysis by Real Capital Analytics (RCA) showed that an increasing number of transactions in its second tier cities, plus strong inflows from regional and global investors, powered China to the top spot over Japan and Australia by transaction volumes.
A total of US$14.0 billion (RMB 95.2 billion) in value of real estate, excluding development sites, changed hands in China in the fourth quarter, RCA data revealed.
This was a 32% increase from the same period a year earlier and lifted total investment value for all of 2016 in China by 10% to US$36.5 billion (RMB 243.3 billion).
Deals in existing properties more than doubled in Chongqing, Tianjin and Hangzhou, propelling these three cities into Asia Pacific’s 25 top investment destinations, some for the first time.
Petra Blazkova, RCA’s Senior Director of Analytics for Asia Pacific, said: “This is a watershed moment for China’s commercial real estate market, heralding the next phase of its transformation into one of the world’s major destinations for global property investors.
While development of new sites remains a prominent feature of its property market, higher deal volumes for standing assets in cities other than Shanghai, Beijing and Shenzhen are a sign of the growing maturity and depth of China’s investment market.”
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%208.58.27%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/08/Screen%20Shot%202017-02-08%20at%208.58.27%20am.jpg" alt="">
China also claimed another record first in 2016 as Asia Pacific’s top destination for foreign investors, who completed US$10.2 billion (RMB 68.0 billion) of property deals there last year.
The total value of transactions by foreign investors has tripled since the 2009 Global Financial Crisis.
The largest foreign investment in China in 2016 was the US$3.0 billion (RMB 20.0 billion) sale of Shanghai Century Link to ARA Asset Management.
In Hong Kong, a market highly influenced by Mainland Chinese investments, overall investment volumes reached US$13.5 billion (HKD 105.2 billion) in 2016, a 15% increase year-on-year (YoY).
Notable transactions that drove this increase included the sale of Mass Mutual Tower and Dah Sing Financial Centre, both for over US$1.0 billion.
In spite of the stronger performance by China and most other Asian markets in 2016, overall investment in the Asia Pacific region fell by 14% YoY to US$132.5 billion on the weakness of the Japanese and Australian markets.
Overall investment volumes in Japan stood at US$29.0 billion (JPY 3.2 trillion) for 2016, a decline of 37% YoY that meant it slipped into second place behind China for the first time.
Third-ranked Australia suffered a drop of 32% YoY in the value of completed transactions to US$22.8 billion (AUD 30.6 billion) last year.
RCA’s analysis showed that listed real estate investment trusts (REITs), a traditional driver of transactions in these two markets, slowed their investments significantly after several years of domestic domination due to their access to cheaper capital.
<a href="https://www.propertyobserver.com.au/images/2017/02/08/Screen%20Shot%202017-02-08%20at%208.58.54%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/08/Screen%20Shot%202017-02-08%20at%208.58.54%20am.jpg" alt="">
RCA’s Blazkova commented: “Pricing in both Japan and Australia seems sharp by historical comparison causing these two markets to slow considerably.
A heavy weight of capital continues to search for opportunities, with a strong focus on the safest and largest markets and a buy-and-hold attitude. This combination has created a highly competitive environment for the best assets.”
Barring Japan and Australia, a number of key markets in the region continued to do well.
One such bright spot was South Korea, where investment volumes in the country rose 15% YoY to US$12.0 billion (KRW 13.7 trillion), driven by healthy domestic and foreign demand.
Last year was also the second strongest year for cross-border investment in South Korea recorded by RCA, with the most notable deal being the purchase of Seoul IFC by Brookfield Asset Management in a joint venture with China Investment Corporation (CIC) for US$2.2 billion (KRW 2.5 trillion).
Singapore also had a strong showing in 2016, posting a 38% year-on-year increase in investment volumes last year to US$8.0 billion (SGD 11.0 billion).
This was mainly due to the US$2.6 billion (SGD 3.4 billion) sale of Asia Square Tower 1.
The transaction boosted confidence, as investors returned to the market in the fourth quarter of 2016 in anticipation of rental growth and rising property values.
Blazkova from RCA said: “There has been much talk about investors turning to smaller markets in Asia Pacific as a source of value-for-money opportunities.
Our analysis suggests, however, that for so-called frontier markets like the Philippines, Indonesia and Vietnam, there is still a stand-off in pricing expectations that is preventing investment from really taking off.”
The Asia Pacific Capital Trends report also revealed:
<ul>
<li>The largest single transaction in 2016 was the US$3.0 billion (RMB 20.0 billion) purchase of Shanghai Century Link in China by ARA Asset Management.  </li>
<li>A new peak was reached in terms of the number of megadeals (over US$1.0 billion) done in Asia Pacific last year at 51, with the continued deployment and abundance of capital.  </li>
<li>In terms of market activity by cities, Seoul was the biggest surprise of 2016, having jumped from 10th position in 2015 to 4th last year on record high investment activity, especially in the office and hotel sectors.</li>
</ul>
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China leapfrogs Japan and Australia to become APAC’s largest commercial real estate investment market

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A trading company has leased a space on one of Melbourne’s most famous shopping strips – Lygon Street, Carlton.
T&amp; Y Global Trading Pty Ltd signed a $90,000 per annum five-plus-five year lease term, representing a building rate of $333.3 per square metre. Ryan Milivojac and Anthony Carbone of CVA negotiated the lease.
The Victorian style building comprises ground floor open plan carpeted space, rear bar, fully equipped industrial kitchen, male and female amenities, upstairs function room with separate amenities and marble fire place. Other features include rear access to Watt Lane.
Situated 40 metres from Grattan Street, the property is 1.8 kilometres from the Melbourne CBD, the property is well surrounded by major roads including Victoria Street, Royal Parade, Alexandra Parade, Nicholson Street and Johnston Street.
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Trading company grabs a slice of Lygon Street, Carlton retail

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The contemporary resort-style Belrose property Kameraigal has been listed for sale at $8.75 million.
Located at <a href="https://www.realestate.com.au/property-house-nsw-belrose-123898290" target="_blank">27 Morgan Road</a> the six-bedroom family residence has three acres of sprawling grounds.
It is a ground level entertainer’s haven with pool table, bar and Teppanyaki grill and an infinity edge swimming pool and spa with waterfall. 
Outside is an expansive terrace, pergola, built-in barbecue and the special Kameraigal fireplace. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/08/Belrose-2.jpg" alt="">
The middle level of the home provides separate entrance, perfect for business or guest accommodation.
There’s also a home office with bespoke fittings, an exotic 400 litre aquarium, tennis court and a gourmet granite kitchen. 
The resort-worthy property has been listed for sale by Kevin Packman of Belle Property. 
The median house price in Belrose is $1.4 million according to CoreLogic RP Data.
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Kameraigal at Belrose listed at $8.75 million

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The 46 luxury residences at 525 High Street, exceeding a residential value of $45 million, have sold out in less than 12 weeks in Prahran East Village.
The 525 High Street project is seven-storey building.
It attracted particular attention from downsizers, empty-nesters, and professional couples.
"Every buyer has been an owner-occupier," Goldfields spokesperson Lachlan Thompson said.
It was a design partnership between JCB Architects and Hecker Guthrie.
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Only owner occupiers buy into 525 High Street, Prahran East sellout

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NRL Titans star and new father Jarryd Hayne is moving on with his life on the Gold Coast.
He has just sold his redundant Paddington terrace back in Sydney. 
The proceeds could readily buy a more family friendly home to replace his family's Surfers Paradise apartment.
The sale price for his renovated pink Paddington terrace remains undisclosed.
It initially came with $3.25 million hopes when the striking pink door showed up on listing websites, however the price was reduced to $2,975,000 by Our Estates selling agent Adam Regan.
Hayne, who became a dad for the first time in December, paid $1,315,000 for the terrace in 2013 when it had only two bedrooms and one bathroom.
He commissioned architect Dickson Rothschild to turn it into a contemporary three bedder with three bathrooms and an attic installation.
The home is now unmissable from the street, with a bright pink door contrasting the dark grey facade.
There's a pink theme throughout the home too. The feature wall in the lounge and the bbq cupboard in the kitchen have clearly been styled by a designer.
The sale leaves the Gold Coast Titan's star with just two properties left in Sydney, another one in Paddington and the other in Darlinghurst, both of which are currently leased.
He's making a tidy profit on his Darlinghurst investment property, finding a tenant for $1,450 a week, $300 a week more than it was before its recent renovation.
Hayne had lived in St Peters before selling the family home for $995,000 to fund his NFL dream.
It was a strong profit on the home that cost him $527,500 in 2007, way back when he was a 19-year old rookie at the Eels.
Hayne, who played 176 games for Parramatta before heading overseas, grew up between Minto and Airds near Campbelltown where he lived in a housing commission residence and was raised by mother Jodie and grandmother Robin while his father chased a career overseas.
There is no news of Hayne buying a property in Queensland yet, with the fullback headlining the Gold Coast Titans Auckland Nine squad this weekend.
Hayne and Amelia Bonnici are yet to publicly name their daughter who was born in mid December, however Hayne posted a picture to Instagram of his daughter asleep on his chest.
"All praise to god above, for he never makes mistakes!!!! <a href="https://www.instagram.com/explore/tags/daddysgirl/" target="_blank" data-log-event="tagvisit" data-ios-link="tag?name=daddysgirl">#daddysgirl</a>" accompanied the picture.
Before making the news public, Hayne was asked by the Telegraph if his new born child would wear an Eels jumper, San Francisco or Titans, Hayne replied by suggesting it would be Titans.
“I don’t know,” he said laughingly.
“(It) obviously depends where I’m at. A Titans one, at the moment.”
This article first appeared in The Daily Telegraph.
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Jarryd Hayne scores redundant Paddington terrace sale

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Sydney is the most expensive place to purchase a house while bargains may be found in Adelaide, according to CoreLogic’s latest report.
The property data firm says that on average the cost of a private treaty house in Sydney is $780,000.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Capital%20city%20private%20treaty.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/30/Capital%20city%20private%20treaty.jpg" alt="">
The average private treaty price of a unit in Sydney is $670,000.
Hobart is the cheapest place to purchase a house with an average cost of $350,000.
Adelaide has enjoyed the cheapest units at $301,000.
<a href="https://www.realestate.com.au/sold/property-unit-sa-blackwood-116166451" target="_blank">A recent Adelaide sale</a> (pictured above) was $302,500 at Blackwood, which has been a $310 a week rental representing a 5% yield.
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Adelaide's cheapest units sell at 5% yield: CoreLogic

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Queenstown is the cheapest place to purchase a house in Tasmania, according to Investar’s latest report.
The property investment firm says that the average median price of a two bedroom house at Queenstown is $68,000.
This is followed by Zeehan with $79,000 and Roseberry with $92,500 for a three bedroom houses.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="106">
Suburb
</td>
<td valign="top" width="106">
Postcode
</td>
<td valign="top" width="106">
Bedrooms
</td>
<td valign="top" width="106">
Median price
</td>
</tr>
<tr>
<td valign="top" width="106">
Queenstown
</td>
<td valign="top" width="106">
7467
</td>
<td valign="top" width="106">
2
</td>
<td valign="top" width="106">
$68,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Zeehan
</td>
<td valign="top" width="106">
7469
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$79,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Roseberry
</td>
<td valign="top" width="106">
7470
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$92,500
</td>
</tr>
<tr>
<td valign="top" width="106">
Mayfield
</td>
<td valign="top" width="106">
7248
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$149,000
</td>
</tr>
<tr>
<td valign="top" width="106">
Waverley
</td>
<td valign="top" width="106">
7250
</td>
<td valign="top" width="106">
3
</td>
<td valign="top" width="106">
$149,000
</td>
</tr>
</tbody></table>
A two bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-124196974" target="_blank">10 Clark Street</a>, Queenstown (above) that has been listed for $68,000.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-124196974" target="_blank">10 Harvey Street</a>, Queenstown (below) has been listed for $75,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/07/10%20Harvey%20Street.jpg" alt="">
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-queenstown-124063622" target="_blank">9 Pillinger Street</a>, Queenstown (below) has recently been sold for $62,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/07/9%20Pillinger%20Street.jpg" alt="">
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-tas-queenstown-123443986" target="_blank">12 Urquhart Street</a>, Queenstown (below) was sold for $79,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/07/12%20Urquhart%20Street.jpg" alt="">
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Queenstown the cheapest place in Tasmania to purchase a house: Investar

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There was plenty of news in Australia this week.
The influential NAB Monthly Business Survey had a smiley face (literally) on it for the first time since mid last year, with the index up 5 points to +11.
Business confidence itself was unchanged at +6.
It reported that there had been “a reprieve from the steady moderation in business conditions seen late last year”.
Yet retail, manufacturing and mining performed poorly, with wholesale picking up the slack. Retail was now the weakest sector in the survey.
Translation: consumer confidence is bad. And when you think that consumer spending accounts for nearly 75% of GDP that is certainly cause for concern.
Private sector credit was up 0.7% in December for a 5.6% annual rate of growth, according to the Reserve Bank.
How does one square that with my claims about consumer confidence?
Easy, the credit expansion was chiefly due to a growth in investor loans, which were up at an annual rate of 6.2%.
In fact, over the last three months that rate was edging toward the Australian Prudential Regulatory Authority “speed limit” of 10% – coming in about 1% below.
This raises thorny questions for APRA. Does it impose tighter constraints on banks lending to investors – like even higher deposit requirements?
What if growth goes over 10% – do they shift the goalposts?
<a href="https://www.propertyobserver.com.au/images/2017/02/07/Screen%20Shot%202017-02-07%20at%2012.54.53%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/07/Screen%20Shot%202017-02-07%20at%2012.54.53%20pm.jpg" alt="">
We are used to thinking of central banks as having to perform a balancing act with monetary policy where they don’t let the economy get too hot or too cold, and have to be worried about an interest rate rise causing a sharp contraction/recession.
Perhaps APRA faces an analogous, though new, problem.
If it tightens so-called “macroprudential” standards – like deposit requirements – it risks causing a sharp contraction in housing prices.
And that could lead to forced selling, and pretty soon it could amount to a fire sale.
Or, if you like, a macroprudentially-induced housing run.
Australia’s trade surplus came in at a record A$3.51 billion in December, beating estimates of around A$2.2 billion. This seems like good news. And as they say in baseball “you can’t boo a homerun”.
But the record figure came on the back of a sharp rise in commodity prices, once again highlighting how dependent our economy is on cyclical movements in prices of things we dig out of the ground.
And the RBA will not be pleased at the accompanying leap in the Aussie dollar, which surged past US76 cents on the news.
The RBA puts a lot of emphasis on a lower Aussie dollar in that it helps exporters, and US76 cents is getting outside their comfort zone.
Although I have expressed scepticism about their thinking many times before in The Conversation.
Over the pond, the US Federal Reserve kept interest rates steady, in the band of 0.5%-0.75%, after its December hike of 25bp.
In its press release the Fed said, “the labor market has continued to strengthen and that economic activity has continued to expand at a moderate pace.
Job gains remained solid and the unemployment rate stayed near its recent low.
Household spending has continued to rise moderately while business fixed investment has remained soft.
Measures of consumer and business sentiment have improved of late.
Inflation increased in recent quarters but is still below the Committee’s 2 percent longer-run objective.”
Other than business investment being soft, that sounds like everything is going according to plan. And so far it is.
But then there is President Trump.
We have yet to see the impact Trump will have on consumer and business confidence, let alone what happens if he starts a series of trade wars.
Or if he convinces Congress to introduce his cash-flow-based tax plan.
I will provide more detail on that in future columns, but it is a dangerous attempt to provide preferable tax treatment for exporters over importers.
It has the very real prospect of causing huge disruption, and a large increase in the prices of many staple goods like textiles and food.
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a> is a Professor of Economics and PLuS Alliance Fellow at UNSW and author for <a href="https://theconversation.com/au" target="_blank">The Conversation</a>.
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Time to shift the goalposts on investor lending again? Richard Holden

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Staff reporter

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